Turner Broadcasting Cutting Payrolls

In a letter sent out to employees on Tuesday, the Atlanta-based broadcaster said it was “shifting capital allocations to high-growth areas where investment will drive growth and profitability.” In other words: job cuts.

First off will be voluntary buyouts for U.S.-based employees 55 and older who have 10 years of service and are not on-air talent. After that “Turner will also undertake additional reductions in staffing.”